VENDORS SOLICITOR

Company: & Legal
Solicitor: Robert Ebner
Mobile: 0416 250 243
Email: rebner@andlegal.com.au
Address: Suite 3.02, Level 3, 376 New South Head Road, DOUBLE BAY NSW 2208

HOLDING DEPOSIT

The Purchaser will pay a refundable holding deposit in the sum of $5,000.00 as a sign of good faith to Niemeyer Commercial (Trust Account) upon signing the sale advice. On or prior to exchange of contract, the purchaser is required to pay a 10% deposit which is held in the Niemeyer Commercial trust until settlement.

The holding deposit shall be paid or applied as follows:

A) If the Purchaser withdraws from negotiations with the Vendor for the purchase of the property prior to exchange, the holding deposit maybe applied to reasonable legal fees incurred by the Vendor in this matter up to the time the Purchaser withdraws. The remain-ing balance (if any) is to be refunded to the Purchaser.

B) If the Vendor withdraws from negotiations for the sale of the property to the Purchaser prior to exchange, the holding deposit is refundable to the Purchaser in full.

C) If the parties enter into the Contract the holding deposit is refundable in full to the Purchaser or if directed by the Purchaser, the holding deposit may be applied and form part of the deposit due under the contract.

Niemeyer Commercial Industrial Property Trust Account

BSB: 182-222 Account Number: 304 515 554

Please use reference: Helles (SURNAME)

TERMS & CONDITIONS

• This document does not constitute a binding agreement to sell or purchase the Property. It merely constitutes an expression of interest to purchase the property. A binding agreement for the sale or purchase of the Property will only be created after a formal contract of sale for the property is signed by the seller and the buyer.

 

• The buyer shall pay the holding deposit to the sellers agent (the deposit holder) on the date of this document as an indication of the buyer’s interest in purchasing the property. If this expressions of interest does not proceed to an exchange of contracts, the holding deposit will be returned to the purchaser in full less reasonable Legal Costs.

 

• If the purchaser enters into a contract to purchase the Property, the holding deposit shall be applied towards the payment of the deposit payable under the contract for sale

 

• The purchaser shall have 14 days from receipt of the contract for sale to execute and return the contract to the Vendor’s Solicitor, failing which the Vendor and Vendor’s Agent may offer the Property to other interested parties and will no longer be held exclusively. If a second purchaser pays a holding deposit after the 14 day period has lapsed, they will then hold the property on an exclusive basis.

 

• This agreement contains the whole agreement between the parties in respect of the expression of interest and the purchaser acknowledges that the buyer has not relied upon any representations made to the buyer regarding the expression of interest, except those contained in this document.